Inflations fears paralyze U.S. stocks
NEW YORK, Oct. 13 (UPI) -- Stock prices on the major U.S. indexes were mixed and range-bound Thursday on news of soaring import prices.
The Dow Jones industrial average was down 0.32 to 10,216.59 on a volume of 1.8 billion shares. The Nasdaq composite gained 9.75, or 0.48 percent, to 2,047.22, and the Standard & Poor's 500 slipped 0.84, or 0.07 percent, to 1,176.84.
The Labor Department noted that September's import price hike 2.3 percent was the largest since 1990.
The benchmark 10-year Treasury lost 7/32, or $2.19 for each $1,000 invested, to yield 4.475 percent.
The dollar rose, hitting 114.93 yen from 114.39 as the euro fell to $1.1935 from $1.2029.
Tokyo's Nikkei 225 closed at 13,449.24 after falling 14.50, or 0.11 percent, and London's FTSE 100 settled at 5,286.40 after sliding 55.80, or 1.04 percent.
Boeing books $8.2 billion order from India
NEW DELHI, Oct. 13 (UPI) -- New Delhi approved a request by Air India to purchase 68 Boeing Co. aircraft at a combined list price of $8.2 billion.
The country's Public Investment Board approved the purchase of 50 aircraft for Air India and 18 for Air India Express, MarketWatch reported Thursday.
The proposal now goes to the Cabinet for approval.
Typically, the actual cost of the aircraft is less than the list price because of discounts granted by the aeronautical company.
Air India's 50 jets will be comprised of 27 Boeing 787 aircraft, 15 Boeing 777-300 ER planes and eight Boeing 777-200 LR jets.
The specific aircraft being purchased by Air India Express was not disclosed.
Australians strike gold in Iran
SARI GUNAY, Iran, Oct. 13 (UPI) -- Australian mining company Rio Tinto Group reports a big gold discovery in Iran, the Adelaide Advertiser said Thursday.
The company's Iran manager, John Bartram said the discovery in Sari Gunay of the western province of Kurdistan could increase the Islamic republic's output of the precious metal fivefold.
Bartram said the discovery could result in production of 4 million tons of ore per year for 12 to 18 years.
Rio Tinto has a 70 percent stake in the Zar Kuh Mining Co., which has been exploring at Sari Gunay. Iranians own the rest of the company.
Russia threatens Georgia, Ukraine
MOSCOW, Oct. 13 (UPI) -- Russia's Foreign minister is warning Georgia and other former members of the Soviet Union against what he termed disloyalty.
Sergei Lavrov, noting that Russia has vast reserves of oil and natural gas, said the Kremlin was ready to use "all of the means of economic pressure" against disloyal members of the Confederation of Independent States, MosNews reported Thursday.
Speaking to members of Russia's upper house of lawmakers, Lavrov said the Kremlin is troubled by the way "in which such states as Ukraine, Georgia and Azerbaijan build up their relations with the North Atlantic Treaty Organization," damaging "traditionally good relations" with Russia.
A continuation of such a westward tilt, he said, could result in Russia selling those nations oil and natural gas at world prices, rather than the discounts they now enjoy.
Blackboard buys rival WebCT for $180M
WASHINGTON, Oct. 13 (UPI) -- Educational software maker Blackboard Inc. of Washington is paying $180 million for rival WebCT Inc.
The actual amount of money that will change hands depends on how much cash is on hand at WebCT, which specializes in course-management software, when the deal is done, the Chronicle of Higher Education reported Thursday.
The acquisition will create an e-learning company with more than 3,700 customers, including colleges and universities, corporate and government clients.
